Some might say this is when you make money while you sleep. Let me quickly define a passive income.Ī passive income is nothing more then earning money with little to no effort. What is a passive income?įirst things first. But, a passive income could prevent that from manifesting into reality. When you consider the above, your retirement dream has the potential to become a nightmare. The more likely scenario, however, is that your benefits won’t be as much. What about Social Security? Some fear that this will become depleted. In fact, the Federal Reserve’s “ Report on the Economic Well-Being of U.S.” found that 63% of Americans either don’t think their savings are on track or aren’t sure. It’s time to retire.Įven if you contributed to an employer-sponsored plan, like a 401(k) that might not be enough to enjoy your Golden Years. Next thing you know? You’ve been given the proverbial gold watch and you’re put out to pasture. And, even when you’re off-the-clock, you’re responding to emails or planning how you’re going to spend your workweek. Let’s say that out of college, you land a job that pays a solid salary. Perhaps, this is why he’s credited with saying, “Work smarter, not harder.”ĭo I have anything against hard work? Of course not. But, he supplemented his pension and occasional script earnings with commissioned artwork and collections like The Carl Barks Library. Why You Need Passive Income and How to Get Itīarks retired in 1996. High yield savings accounts and money market funds. Automatically invest in the stock market.
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